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MBAiling; have business schools lost touch with business? (editorial)

ALONG with Porsches and portable telephones, the MBA IN was a potent symbol of success during the boom years of the 1980s. Would-be captains of industry scrambled for places at top business schools like Harvard, INSEAD and Stan. ford; companies outbid each other to pay the fattest salaries to the best of the crop. Armed with their degree as a Master of Business Administration, graduates of the classiest schools could sometimes double their pre-MBA salary. Small wonder, then, that the business-school business has blossomed. Close to 700 American schools churned out 75,000 MBA graduates last year; 120 or so European schools added a further 10,000 to that total.

With three ...

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